LEADERSHIP: BEST PRACTICE

Published: 2007-04-10   please add a comment below

Benchmarking and intellectual property are modern buzzwords.  No business plan or conference is complete without them.  But, as with all jargon, they're more talked of than seriously applied.  Why?  Because, application is hard work.  And, benchmarking leads to comparing my company, division or team with others.  And, that's potentially embarrassing.  So, let's talk but perhaps not do too much. 

Notwithstanding this cynicism, benchmarking is extremely valuable.  The ultimate version takes place every day in the market.  A buyer makes a comparison and decides my product or service isn't as good as yours.  I may not know why.  But, against their standards, that's how it is.  And, I had better start thinking and analysing.

What can I do?  Well, for a start, establish standards for key aspects of what we produce and how it's done.  Then find comparative standards and drive to do better, exceeding the previous best whether mine or yours.  The skill's in keeping it simple, clear and genuinely comparative.  And then, keeping going - on and on.

As with benchmarking, building IP is also important.  It creates an asset out of the repeatability and perfecting of how you do things.  It could be your production designs, the way you manage stock or stack supermarket shelves or your consulting processes.  Codifying these avoids reinventing them and ensures best practice (another buzzword!) is spread rather than isolated in one division or team.

All of this requires building knowledge management systems to capture, upgrade and share information.  And, being relentless about post-mortems and debriefs on both successes and failures.  Also, continually searching for the centres of excellence (sorry, yet another buzzword!) both inside and beyond your own organisation.

But, the place to start is with yourself!

Dr. Timothy Pascoe AM
PhD (Cambridge), MBA (Harvard), BE & BEc (Adelaide)
Creator, V|E|C|T|O|R Leadership^®